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Creso Pharma expands global footprint with new eCommerce channel and launch into Poland

Published: 12:31 17 Sep 2021 AEST

Creso Pharma Ltd - Creso Pharma expands global footprint with new eCommerce channel and launch into Poland

Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF) has increased its European market presence by launching a new eCommerce channel and marketing campaign.

The cannabis-centric pharmaceutical company is focused on broadening its footprint in the continent through its new ‘Born to move’ range, which will initially offer CBD-fuelled health products to the Swiss consumer sports market.

In addition to the marketing campaign, Creso is preparing to launch into the Polish market after securing its maiden purchase order for its hemp-powered animal product.

The company’s Polish partner will use the anibidiol® products on animals treated in its clinics, as well and sell and distribute the range through its existing channels.

Broadening global footprint

Speaking to the market opportunity, Creso Pharma’s head of international operations, director Jorge Wernli, said the company’s European operations continued to grow.

“Following the launch of our new eCommerce platform with the revitalised cannaDOL® product range, we can now directly target consumers and unlock another potential revenue stream and addressable market.

“This represents a key strategic milestone in broadening our global footprint, as well as our presence in sports and recreational markets.

“We will continue to pursue growth opportunities across Europe and can now focus on both business-to-business and direct-to-consumer paths.

“The company will continue to update shareholders on progress in the coming months.”

New eCommerce channel

As part of today’s news, Creso announced it had launched its new eCommerce channel.

The new site, which is now live, will host the company’s cannaDOL® range, a series of human health products designed for the sports, health and wellness markets.

A new sub-brand labelled as Born to move will absorb the cannaDOL® portfolio, which includes:

  • cannaDOL® booster, for use before sport and recreational activity;
  • cannaDOL® revitalize gel, which provides an immediate cooling effect, a long-lasting soothing and relaxing heat on skin and can be used before and after physical activity; and
  • cannaDOL® recovery to aid in recovery from sport and other physical activities.

This development marks the first time Creso Pharma has utilised eCommerce platforms and unlocks a new potential revenue channel for the company.

Initially, the new platform will target Swiss consumers, who reside in a large addressable market for the company, where annual per capita expenditure totals CHF2,500 in the country’s CHF21 billion market for sports-related activities.

There’s also an opportunity for the pharmaceutical company to extend its revenue channel across other parts of Europe.

As part of its strategy, Creso will enter discussions with Swiss pharmacies, other retailers and sporting clubs to build awareness and broaden distribution of the Born to move product ranges.

Expansion into Poland

In addition to its new eCommerce channel and marketing campaign, Creso Pharma has launched into the Polish animal health market after securing a purchase order valued at roughly A$80,141.

The order, placed by Creso’s partner Polvet, covers the pharmaceutical company’s hemp flour-based, anibidiol® granule product for pets, large companion animals and livestock.

anibidiol® is described as the first Swiss complementary feed for companion animals that contains natural hemp oil.

The order comes after CPH inked a letter of intent with Polvet in May, establishing a commercial agreement to market.

The broader Polish market represents a large addressable opportunity, with a population of 38 million domestic consumers and one of the largest pet markets in Central-Eastern Europe.

Looking ahead, CPH is pursuing potential more distribution partnerships and licensing agreements to broaden its European footprint.

The Polish partner

Creso's newest customer is a medical and pharmaceutical company that provides human and veterinary services across the country.

The group operates three animal clinics across the country which will utilise Creso’s  anibidiol® product across its sites.

Polvet’s clinics treat roughly 10,000 animals per year, highlighting an immediate opportunity for the Creso Pharma team.

The group will also distribute the granules through its established eCommerce channels and progress sales through its distribution footprint, which boasts more than 5,000 points of sale.

Creso Pharma’s anibidiol® granule product is designed to be used on pets and livestock before and after surgery, but it can also be used in pets as a feed supplement.

Speaking on the partnership with Creso, Polvet Clinics CEO Dr Oliwier Theodorowski said: “At Polvet, we are keen on working with companies developing, producing and marketing innovative products such as the hemp flour-based anibidiol®.

“anibidiol® is unique and we are looking forward to build up this success with Creso Pharma.”

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